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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 IR69iDDOziFiYC5jV5d86nMeKawhqs0IRxFLiHaSaJGh36sKKcFZiAVMs7mlsnVA
 6uUquZjETKEqAXEnd2Mf5w==

<SEC-DOCUMENT>0001181431-04-001531.txt : 20040107
<SEC-HEADER>0001181431-04-001531.hdr.sgml : 20040107
<ACCEPTANCE-DATETIME>20040107135556
ACCESSION NUMBER:		0001181431-04-001531
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031222
FILED AS OF DATE:		20040107

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			BAGLEY PAUL
		CENTRAL INDEX KEY:			0001218344

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-24672
		FILM NUMBER:		04512620

	MAIL ADDRESS:	
		STREET 1:		1530 16TH STREET SUITE 200
		CITY:			DENVER
		STATE:			CO
		ZIP:			80202-1468

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HOLLIS EDEN PHARMACEUTICALS INC /DE/
		CENTRAL INDEX KEY:			0000899394
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				133697002
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		4435 EASTGATE MALL
		STREET 2:		SUITE 400
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92121
		BUSINESS PHONE:		858-587-9333

	MAIL ADDRESS:	
		STREET 1:		4435 EASTGATE MALL
		STREET 2:		SUITE 400
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92121

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INITIAL ACQUISITION CORP
		DATE OF NAME CHANGE:	19930329
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd27747.xml
<TEXT>
<XML>
<?xml version="1.0"?><ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType><periodOfReport>2003-12-22</periodOfReport><notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000899394</issuerCik>
        <issuerName>HOLLIS EDEN PHARMACEUTICALS INC /DE/</issuerName>
        <issuerTradingSymbol>HEPH</issuerTradingSymbol></issuer><reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001218344</rptOwnerCik>
            <rptOwnerName>BAGLEY PAUL</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1530 16TH STREET</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 200</rptOwnerStreet2>
            <rptOwnerCity>DENVER</rptOwnerCity>
            <rptOwnerState>CO</rptOwnerState>
            <rptOwnerZipCode>80202-1306</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>1</isDirector><isOfficer>0</isOfficer><isTenPercentOwner>0</isTenPercentOwner><isOther>0</isOther></reportingOwnerRelationship></reportingOwner><nonDerivativeTable><nonDerivativeTransaction><securityTitle><value>Common Stock</value></securityTitle><transactionDate><value>2003-12-22</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>P</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>2200</value></transactionShares><transactionPricePerShare><value>10.17</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>A</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>62380</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></nonDerivativeTransaction><nonDerivativeHold
ing><securityTitle><value>Common Stock</value></securityTitle><postTransactionAmounts><sharesOwnedFollowingTransaction><value>500</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>I</value><footnoteId id="F1"/></directOrIndirectOwnership><natureOfOwnership><value>See Footnote 2</value><footnoteId id="F2"/></natureOfOwnership></ownershipNature></nonDerivativeHolding><nonDerivativeHolding><securityTitle><value>Common Stock</value></securityTitle><postTransactionAmounts><sharesOwnedFollowingTransaction><value>834</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>I</value><footnoteId id="F3"/></directOrIndirectOwnership><natureOfOwnership><value>See Footnote 2</value><footnoteId id="F2"/></natureOfOwnership></ownershipNature></nonDerivativeHolding><nonDerivativeHolding><securityTitle><value>Common Stock</value></securityTitle><postTransactionAmounts><sharesOwnedFollowingTransactio
n><value>100</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>I</value></directOrIndirectOwnership><natureOfOwnership><value>By IRA</value></natureOfOwnership></ownershipNature></nonDerivativeHolding></nonDerivativeTable><footnotes><footnote id="F1">Stone Pine Funding Systems, LLC ("SP Funding") owns 500 shares of the Company's Common Stock (the "SP Funding Common Stock").  The reporting person is a member of the Board of Managers of SP Funding and thus shares the right to vote and dispose, or direct the disposition of, the SP Funding Common Stock.  As a result, the reporting person may be deemed to be the beneficial owner of the SP Funding Common Stock.  The reporting person had a pecuniary interest in 450 shares of the SP Funding Common Stock as of December 22, 2003.</footnote><footnote id="F2">Through general partner interest in Princeton Partners.</footnote><footnote id="F3">LHIP Management Company L.L.C. ("LHIP Management") directly own
s 834 shares of the Company's Common Stock (the "LHIP Management Common Stock").  The reporting person is the manager of LHIP Management.  As the manager of LHIP Management, the reporting person has the right to vote and dispose, or direct the disposition of, the LHIP Management Common Stock.  As a result, the reporting person may be deemed to be the beneficial owner of the LHIP Management Common Stock.  The reporting person had a pecuniary interest in 834 shares of the LHIP Management Common Stock as of December 22, 2003.</footnote></footnotes><ownerSignature><signatureName>Eric J. Loumeau, Attorney-in-Fact</signatureName><signatureDate>2004-01-07</signatureDate></ownerSignature></ownershipDocument>



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